‘Long Way to Flip ETH,’ Binance’s CZ Reacts as BNB Chain Outperforms Solana in DeFi TVL

Binance's CZ considers a new target, which seems like a long road for BNB Chain, after the blockchain flipped Solana in a major DeFi milestone.

BNB Chain has continued to hit major milestones following its growing user engagement across the DeFi ecosystem, flipping other major blockchain networks in key metrics.

As onchain activity on BNB Chain continues to grow, the network has suddenly flipped Solana in DeFi TVL, sparking reactions from the crypto community, especially Binance’s founder, Changpeng Zhao.

Notably, recent onchain data shows that BNB Chain has recorded a massive $5.94 billion in DeFi TVL as of September 14.

While this positions BNB Chain as the second largest blockchain by DeFi TVL, it has narrowly surpassed Solana, which has seen $5.89 billion locked in its DeFi market, dropping to become the third blockchain on the list.

While Ethereum maintained its lead in first position, the data further showed that Base and Tron rank fourth and fifth in DeFi TVL, with about $5.63 billion and $5.47 billion, respectively.

With Ethereum remaining far above BNB Chain, maintaining its dominance as the largest blockchain with about $49.95 billion in DeFi TVL, it appears that this has drawn CZ’s attention to what may be BNB Chain’s biggest hurdle to reaching the top spot.

In his post, CZ acknowledged BNB Chain’s progress and outperformance against Solana. However, he also compared it to Ethereum, joking about the unlikely chance of BNB Chain flipping Ethereum soon, calling it a “long road.”

Nonetheless, CZ further stressed that the rankings should not be viewed as a competition, but rather as a drive for more development to further build the BNB Chain ecosystem.